AB INTL GROUP Announces Launch of a Film Entity as Subsidiary in China
NEW YORK, Sept. 04, 2024 (GLOBE NEWSWIRE) -- AB International Group Corp. (OTC: ABQQ), an intellectual property (IP) and movie investment and licensing firm, announces the launch of a wholly owned subsidiary in China, which is aiming to tap into one of the world's largest and most dynamic film markets.
1.Market Access and Revenue Potential: China's film industry has been rapidly growing, ranking as the second-largest box office market globally. By establishing a subsidiary there, ABQQ gains direct access to this lucrative market without the need for third-party distributors, potentially increasing profit margins.
2. Cultural and Content Localization: Operating directly in China allows ABQQ to better tailor its content to local tastes, which is crucial given China's stringent content regulations and cultural preferences. This could lead to higher acceptance and box office success for films distributed through their subsidiary.
3. Strategic Partnerships: The collaboration with Hua Xia Film Group for films yearly indicates that ABQQ is not just entering the market but doing so with established partners. This can facilitate smoother regulatory navigation, distribution, and marketing within China, leveraging local expertise.
4. Risk Management: While entering the Chinese market offers significant opportunities, it also comes with risks like regulatory changes, censorship, and market competition. By setting up a subsidiary, ABQQ is looking to manage these risks more effectively, perhaps by localizing operations, understanding, and adapting to the regulatory environment more swiftly.
5. Brand Expansion and Global Strategy: This move could be part of a broader strategy to expand ABQQ's brand globally. Having a physical presence in key markets like China can enhance ABQQ's reputation as a global player in film distribution, potentially attracting more international projects or partnerships.
6. Challenges: Despite the potential, ABQQ will face challenges like navigating China's complex business environment, dealing with intellectual property rights issues, and ensuring content compliance with local laws. The success of a newly release film will be a litmus test for our strategy.
7. Long-term Vision: This could be part of a long-term vision where ABQQ aims to not just distribute films but perhaps produce content specifically for the Chinese market or even expand into other entertainment sectors, given China's growing digital content consumption.
“ABQQ's successful establishment of this film business subsidiary in China reflects ABQQ's strategic move to capitalize on the growing Chinese market, potentially increase revenue, and establish a stronger global presence in the film industry. We understand that the success of this business depends heavily on capital investment, and I am confident that the team will be able to adapt to local market dynamics, manage risk, and deliver content that resonates with Chinese audiences,” stated Chiyuan Deng, CEO, who also serves as a film director and producer.
About AB International Group Corp.
AB International Group Corp. is an intellectual property (IP) and movie investment and licensing firm, focused on acquisitions and development of various intellectual property. We are engaged in acquisition and distribution of movies. The Company operates AB Cinemas, physical movie theaters currently in NY with plans to expand nationwide (www.abcinemasny.com). The company also owns ABQQ.TV which is a movie and TV show online streaming platform. ABQQ TV generates revenue through a hybrid subscription model and advertising model like other online streaming platforms.
For additional information, visit www.abqqs.com, www.abcinemasny.com, and www.ABQQ.tv.
Forward-Looking Statements
This press release contains “forward-looking statements” that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements relating to changes to the Company’s management team and statements relating to the Company’s transformation, financial and operational performance including the acceleration of revenue and margins, and the Company’s overall strategy. Because forward-looking statements inherently involve risks and uncertainties, actual future results may differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, the possibility of business disruption, competitive uncertainties, and general economic and business conditions in AB International Group markets as well as the other risks detailed in company filings with the Securities and Exchange Commission. AB International Group undertakes no obligation to update any statements in this press release for changes that happen after the date of this release.
Investor Relations Contact:
Charles Tang
(852) 2622 2891
corp@abqqs.com
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